The time value of money is a very important concept in personal finance and in life. Once you understand it, it can help you make better informed decision.
Understanding the Time Value of Money [Can I Retire Yet?] – “The concept of the time value of money is that a dollar received today is different from the value of a dollar received tomorrow. Typically, a dollar received today is assumed to be more valuable than a dollar received in the future. This is because you can invest your dollar today putting it to work creating more future dollars.”
Shanghai’s Stunning Fall from Grace [Jaap Grolleman] – “The first time I came to Shanghai, in 2017, I was amazed by how developed the city was. My only other Asian experience was Mumbai, and compared to that, Shanghai was clean and organized. I was amazed by how you could pay for a laundrette with your phone, or sharing bicycles on the street, food delivery within 30 minutes, skyscrapers that had mostly all been built in the decade. And you could say a lot of things about the political environment but people seemed incredibly hard-working, optimistic, and GDP in China had grown incredibly hard for forty years straight. And Shanghai was the shining example of that.”
Last week as the Masters Tournament and a few years ago, I was able to attend the Wednesday practice round thanks to a friend who won tickets in the lottery. It really is a magnificent place and the weekend was a fun tournament to watch.
Inside the Cultish Dreamworld of Augusta National [The New Yorker] – “The home of the Masters Tournament is a prelapsarian golf paradise, combining good manners and Southern delights with exclusion and self-satisfaction.”